I have made felt beads many times and I find it very fun and relaxing. Here is a tutorial from Martha Stewart for felt bouncy balls made of wool roving; make them small and add a hole for beads. The tutorial says to use a toothpick to poke a hole in the bead, but I use a darning needle instead and I think that that works better. Try stringing your beads on stretchy cord with small glass or metal beads in between for a fun bracelet. The tutorial also says to use non-scented dish soap, but for an extra touch I used scented body wash and that worked just as well, and left a subtle scent even when the beads dried.